Queensland’s gas industry today announced it has provided A$13.5 million to the Gladstone Foundation, a government body that distributes funding for social investment in the local region.
The Australia Pacific LNG and Queensland Curtis LNG projects have each provided A$5 million and the GLNG project has provided A$3.5 million, according to a statement.
The Foundation is a perpetual trust established by the Queensland Government in February 2011 to manage and allocate industry contributions to benefit the community.
QGC Managing Director Derek Fisher said: “The foundation is the result of the Queensland Government, Gladstone Regional Council and the CSG-to-LNG proponents working together to improve social impact management in Gladstone.”
Australia Pacific LNG CEO Page Maxson said: “We’re delighted that our contributions today will make a significant difference to the development of social infrastructure in and around Gladstone and that more of the benefits from the gas industry will flow into the community.”
President Santos GLNG Mark Macfarlane said: “This commitment is just one initiative of our Project’s ongoing social investment in the Gladstone region. This contribution is over and above our Social Impact Management Plan obligations.”
The funding will be approved and administered through the Gladstone Foundation’s Board of Advice.
The Board of Advice will follow the Queensland Government’s Social Infrastructure Strategic Plan, which includes guidelines for the distribution of funds to the community.
[mappress] LNG World News Staff, June 07, 2012.